- The Venezuelan non-life insurance segment's growth prospects by non-life insurance categories- Key trends and drivers for the non-life insurance segment- The various distribution channels in the Venezuelan non-life insurance segment- Detailed competitive landscape in the non-life insurance segment in Venezuela- Regulatory policies of the Venezuelan insurance industry- A description of the non-life reinsurance segment in Venezuela- Porter's Five Forces Analysis of the non-life insurance segment- Benchmarking section on the Venezuelan non-life insurance segment in comparison to other countries in the Latin American region

Summary

Non-life insurance is one of the most highly regulated and concentrated segments in the Venezuelan insurance industry. It was the largest segment, accounting for 48.6% of the industry's total gross written premium in 2012. The segment was led by the motor insurance category in 2012 with a 66.9% share of the gross written premium, followed by property insurance with 26.3%.

A
growth in automobile sales, the rising property market and high inflation supported the segment's growth during the review period (2008- 2012), and are expected to continue to do so over the forecast period (2012- 2017). Compulsory third-party motor liability insurance also supported the growth of non-life insurance during the review period, and both motor and property insurance are expected to retain their segment-leading positions over the forecast period.

Scope

This report provides a comprehensive analysis of the non-life insurance segment in Venezuela:

- It provides historical values for Venezuela's non-life insurance segment for the report's 2008- 2012 review period and forecast figures for the 2012- 2017 forecast period- It offers a detailed analysis of the key categories in Venezuela's non-life insurance segment, along with market forecasts until 2017- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions- It analyses the various distribution channels for non-life insurance products in Venezuela- Using Porter's industry-standard “Five Forces” analysis, it details the competitive landscape in Venezuela for the non-life insurance segment- It provides a detailed analysis of the reinsurance segment in Venezuela and its growth prospects- It profiles the top non-life insurance companies in Venezuela and outlines the key regulations affecting them

Reasons To Buy

- Make strategic business decisions using in depth historic and forecast market data related to the Venezuelan non-life insurance segment and each category within it- Understand the demand-side dynamics, key market trends and growth opportunities within the Venezuelan non-life insurance segment- Assess the competitive dynamics in the non-life insurance segment, along with the reinsurance segment- Identify the growth opportunities and market dynamics within key product categories- Gain insights into key regulations governing the Venezuelan insurance industry and its impact on companies and the market's future

Key Highlights

- The Venezuelan non-life insurance segment grew from VEF11.7 billion (US$5.4 billion) in 2008 to VEF28.9 billion (US$6.7 billion) in 2012, at a review-period compound annual growth rate (CAGR) of 25.4%, supported by motor insurance, rising automobile sales and inflation- Motor insurance dominated the segment with a share of 66.9% in 2012, followed by property insurance with 26.3%, marine, aviation and transit with 3.9%, and general liability with 2.8%

- With anticipated growth in the Venezuelan construction industry, the property insurance category is expected to increase at a forecast-period CAGR of 26.8% to reach VEF24.9 billion (US$1.9 billion) in 2017

- Brokers formed the largest non-life insurance distribution channel in Venezuela, accounting for 69.0% of the segment in terms of new business written premium in 2012

- The non-life insurance segment is concentrated with the 10-leading insurers accounting for 71.8% of the total non-life segment in terms in terms of written premiums in 2012
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12 Business Environment and Country Risk12.1 Business Confidence12.1.1 Market capitalization trend – Bolsa de Valores de Caracas, Venezuela12.2 Economic Performance12.2.1 GDP at constant prices (US$)12.2.2 GDP per capita at constant prices (US$)12.2.3 GDP at current prices (US$)12.2.4 GDP per capita at current prices (US$)12.2.5 GDP by key segments12.2.6 Agriculture net output at current prices (US$)12.2.7 Agriculture net output at current prices as a percentage of GDP12.2.8 Manufacturing net output at current prices (US$)12.2.9 Manufacturing net output at current prices as a percentage of GDP12.2.10 Mining, manufacturing and utilities at current prices (US$)12.2.11 Mining, manufacturing and utilities at current prices, as percentage of GDP12.2.12 Construction net output at current prices, (US$)12.2.13 Construction net output at current prices as a percentage of GDP12.2.14 Inflation rate12.2.15 Exports as a percentage of GDP12.2.16 Imports as a percentage of GDP12.2.17 Exports growth12.2.18 Imports growth12.2.19 Annual average exchange rate VEF–US$12.3 Infrastructure Quality and Availability12.3.1 Commercial vehicles exports total value12.3.2 Commercial vehicles imports total value12.3.3 Automotive exports total value12.3.4 Automotive imports total value12.3.5 Total internet subscribers12.4 Labor Force12.4.1 Labor force12.4.2 Unemployment rate12.5 Demographics12.5.1 Gross national disposable income (US$)12.5.2 Household consumption expenditure (US$)12.5.3 Total population12.5.4 Urban and rural populations12.5.5 Age distribution of the total population

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